Chennai Silks weaves plans to achieve Rs 10,000 cr by 2015

Leading textile chain Chennai Silks, which recently

forayed into the jewellery business, is looking at more than doubling its turnover to Rs 10,000 crores by 2014-15. The group’s turnover covering all businesses stood at Rs 4,000 crores at the end of 2011-12 fiscal. “We are eyeing a total turnover of Rs 10,000 crores by 2015 fiscal and the company would open four new jewellery showrooms in Madurai, Vellore, Udhagamandalam and Tuticorin by April next year,” said K Manickam, Managing Director of Sree Kumaran Thangamaligai, a sister concern of Chennai Silks, after inaugurating the renovated and extended jewellery showroom.

The company is also expecting its market share to go up to 35 per cent from the present 18 per cent. Manickam said that the Chennai Silks established the Sree Kumaram Thangamaaligai, the first 916 hallmark jewellery showroom to offer customers gold and silver jewels in numerous designs.

Established in 1962, The Chennai Silks, the largest textile kingdom in Tamil Nadu, has proven to be a shopper's delight for generations. It has a widespread reach with sprawling showrooms in Chennai, Coimbatore, Tirupur, Erode, Trichy, Karur, Ernakulam and Tirunelveli.